Marketing
20th Edition
ISBN: 9780357033791
Author: Pride, William M
Publisher: South Western Educational Publishing
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Question
Chapter 4, Problem 3SC
Summary Introduction
Case summary:
Bank WF is the one among the largest banks in Country U. The Consumer Financial Protection Bureau charged fine of $185 million for opening a 2.1 million of unauthorized accounts and services for the clients. The bank fired 5,300 employees for the false and illegal opening of accounts. These ethical issues are because of the pressure of the organization. This shows that these illegal activities are arises to achieve the sales target. Evidence proved that these were also approved my many managers. Bank WF fired all these employees without being investigated. An investigation special board committed investigated all the Bank WF employees and the result found that the target can be achieved only by way of cheating. They used whistle blower retaliation to investigate and fire the employees. Late, the CEO of the bank was resigned and replaced by Person T.
Because of all these activities the trust among the customers were reduced and it will take time to rebuilt it again by Bank WF. To patch up all these the bank formed all new employees with best internal control and many risk management policies. The bank came up with more innovative services focusing the customer satisfaction.
Characters in the case:
- Bank WF
To discuss: The way Bank FW is going to prevent these unethical subcultures from harming its reputation and its brand.
Ethical subculture refers to the division of a large culture with ethical values and norms.
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Students have asked these similar questions
What unethical business practices were involved in the Wells Fargo incident? Give examples and demonstrate detailed ethical reasoning using ethical reasoning and relevant factual information
Preparation
CSR strategies encourage the company to make a positive impact on the environment and stakeholders including
consumers, employees, investors, communities, and others. Corporate social responsibility (CSR, also called
corporate conscience, corporate citizenship, or responsible business) is a form of corporate self-regulation
integrated into a business model. CSR policy functions as a self-regulatory mechanism whereby a business
monitors and ensures its active compliance with the spirit of the law, ethical standards, and national or
international norms.
Your Task
1. Select a company (domestic or international) that will be the basis for your research.
2. Research the company's record in the area of CSR. Be sure to look at both their domestic and well
as international reputation (if any).
Complete this assignment that contains the following information:
1. A brief (one-paragraph) summary of the business you selected.
2. Describe specific examples of corporate…
What is consumer protection act ? And how did it improve business ethics ?
Chapter 4 Solutions
Marketing
Ch. 4.1 - Prob. 1VCCh. 4.1 - Prob. 2VCCh. 4.1 - Prob. 3VCCh. 4.2 - Prob. 1CCh. 4.2 - Prob. 2CCh. 4.2 - Prob. 3CCh. 4 - Prob. 1DRQCh. 4 - Prob. 2DRQCh. 4 - Prob. 3DRQCh. 4 - Prob. 4DRQ
Ch. 4 - Prob. 5DRQCh. 4 - Prob. 6DRQCh. 4 - Prob. 7DRQCh. 4 - Prob. 8DRQCh. 4 - Prob. 9DRQCh. 4 - Prob. 10DRQCh. 4 - Prob. 11DRQCh. 4 - Prob. 12DRQCh. 4 - Prob. 13DRQCh. 4 - Prob. 14DRQCh. 4 - Prob. 1DYMPCh. 4 - Prob. 2DYMPCh. 4 - Prob. 3DYMPCh. 4 - Prob. 4DYMPCh. 4 - Prob. 1SCCh. 4 - Prob. 2SCCh. 4 - Prob. 3SC
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